Central Bank of India wants to review Supreme Court ruling on cryptocurrency use

The Reserve Bank of India intends to file a review of a recent Supreme Court decision to lift the ban on cryptocurrency banking operations.

On Wednesday, a bench of the Supreme Court of Indiaruled that the central bank's 2018 regulations were unlawful because they contradicted the provisions of the constitution. However, the RBI did not accept this decision and plans to appeal it, since it is confident that the use of cryptocurrency increases the level of risks for the banking system.

Although the local community is celebrating the victory,Indian exchanges have already begun to open fiataccounts, lawyers say the central bank has legal grounds to file a review petition. However, they add that the chances of success are quite low, since Supreme Court decisions are final, serve as the basis for subsequent cases and are rarely reviewed.

In addition, other affected crypto companies, some of which went bankrupt, can also go to court with charges against the Reserve Bank of India.

</p>